Capstone Green Energy Announces New 4 MW, Two-Year EaaS Contract – Plans to Expand Rental Fleet to 21.1 MW by March 31, 2022

 

Remote Data Center Located on Oil & Gas Well Handles Cryptocurrency Mining

VAN NUYS, Calif.–(BUSINESS WIRE)– Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy as a service (EaaS) solutions, announced today that it has entered into a 4 megawatt (MW), two-year, long-term rental contract with a new end-use customer in the cryptocurrency mining space. The new two-year contract represents another 4 MW of clean Energy as a Service (EaaS) rental systems, and continues Capstone Green Energy’s expansion of its current long-term rental fleet to 21.1 MW by March 31, 2022.

“Capstone continues to expand its EaaS business, including its long-term rental program. This is an important element in achieving our near-term profitability goals as rentals generate higher contribution margin rates than traditional product sales,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “With this new 4 MW, long-term contract and the existing pipeline of rental projects, we expect to reach our goal of a 21.1 MW rental fleet by March 31, 2022,” concluded Mr. Jamison.

Located on an oil and gas well, this remote data center handles large volume, blockchain and cryptocurrency mining. The customer approached Capstone looking for an innovative way to take advantage of their existing on-site associated production gas, a byproduct that would otherwise be released into the atmosphere.

Because Capstone microturbines are designed to offer fuel flexibility, the system will use the waste gas, essentially as free fuel, a benefit that not only reduces emissions but also offers operational savings. Further, the added reliability, low emissions, and nominal maintenance requirements of microturbine-based rental systems make them an ideal solution for remote locations, which can be hard to reach and often deal with challenging climate conditions.

Cryptocurrency mining is the process by which new crypto “coins” are entered into circulation. Their production requires highly sophisticated computers, often in a data center, to solve complex computational math problems. By their very nature, data centers require tremendous amounts of electricity. At a time when the utility grid is strained due to extreme weather, aging infrastructure, and inadequate transmission, on-site power provides a resilient, cost-effective alternative for energy-intensive facilities.

By offering customers Energy as a Service, Capstone Green Energy is strengthening its commitment to creating smarter energy for a cleaner future, as carbon reduction continues to have ever-increasing value to global customers.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

Source: Capstone Green Energy Corporation

 

Capstone Green Energy Announces New 4 MW, Two-Year EaaS Contract – Plans to Expand Rental Fleet to 21.1 MW by March 31, 2022

 

Remote Data Center Located on Oil & Gas Well Handles Cryptocurrency Mining

VAN NUYS, Calif.–(BUSINESS WIRE)– Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy as a service (EaaS) solutions, announced today that it has entered into a 4 megawatt (MW), two-year, long-term rental contract with a new end-use customer in the cryptocurrency mining space. The new two-year contract represents another 4 MW of clean Energy as a Service (EaaS) rental systems, and continues Capstone Green Energy’s expansion of its current long-term rental fleet to 21.1 MW by March 31, 2022.

“Capstone continues to expand its EaaS business, including its long-term rental program. This is an important element in achieving our near-term profitability goals as rentals generate higher contribution margin rates than traditional product sales,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “With this new 4 MW, long-term contract and the existing pipeline of rental projects, we expect to reach our goal of a 21.1 MW rental fleet by March 31, 2022,” concluded Mr. Jamison.

Located on an oil and gas well, this remote data center handles large volume, blockchain and cryptocurrency mining. The customer approached Capstone looking for an innovative way to take advantage of their existing on-site associated production gas, a byproduct that would otherwise be released into the atmosphere.

Because Capstone microturbines are designed to offer fuel flexibility, the system will use the waste gas, essentially as free fuel, a benefit that not only reduces emissions but also offers operational savings. Further, the added reliability, low emissions, and nominal maintenance requirements of microturbine-based rental systems make them an ideal solution for remote locations, which can be hard to reach and often deal with challenging climate conditions.

Cryptocurrency mining is the process by which new crypto “coins” are entered into circulation. Their production requires highly sophisticated computers, often in a data center, to solve complex computational math problems. By their very nature, data centers require tremendous amounts of electricity. At a time when the utility grid is strained due to extreme weather, aging infrastructure, and inadequate transmission, on-site power provides a resilient, cost-effective alternative for energy-intensive facilities.

By offering customers Energy as a Service, Capstone Green Energy is strengthening its commitment to creating smarter energy for a cleaner future, as carbon reduction continues to have ever-increasing value to global customers.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

Source: Capstone Green Energy Corporation

Indonesia Energy Closes Initial Tranche of $7.0 Million Private Placement

Research, News, and Market Data on Indonesia Energy

 

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / January 24, 2022 / Indonesia Energy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced the closing of the initial $5.0 million tranche of a total anticipated $7.0 million private placement with a single institutional investor.

The Company intends to use the net proceeds from the private placement for funding its previously announced oil well drilling program and for working capital general corporate purposes.

The investment is in the form of a senior convertible note which carries a 6.0% original issue discount, resulting in proceeds before expenses to IEC of approximately $4.7 million. The note has an 18-month maturity and a fixed conversion price of $6.00 per ordinary share for voluntary conversions of the note, subject to adjustment. Beginning four months following the closing of this initial tranche, IEC is required to make equal monthly installment payments of the note through the maturity date, which payments are payable in cash or ordinary shares of IEC (or a combination of cash and shares), with such shares being valued for each payment on the terms provided for under the note.

As part of the investment, the investor was also granted a five year warrant to purchase 383,620 ordinary shares at an exercise price of $6.00 per share, subject to adjustment.

IEC has agreed to file a registration statement registering for resale the ordinary shares issuable upon conversion of the note and upon exercise of the warrant. Upon the declaration of effectiveness of such registration statement, and subject to the satisfaction of certain conditions, a second tranche of funding will be provided by the investor in the principal amount of $2 million, less a 6% original issuance discount, resulting in proceeds before expenses to IEC of approximately $1.88 million. Such principal amount, if funded, will be added to the principal amount of the note, and the investor will be entitled to receive an additional warrant (carrying the same terms as the initial warrant) to purchase 153,450 ordinary shares.

EF Hutton, division of Benchmark Investments, LLC, acted as exclusive placement agent for the private placement and received customary fees.

Additional information regarding this transaction will be provided in a Form 6-K to be filed by IEC with Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, whether the second tranche of the financing described herein actually occurs, or the results of IEC’s drilling program) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020, filed on May 18, 2021, with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

	Image Credit: Pixabay (Pexels)

A Growing Number of Analysts are Forecasting Triple Digit Oil Prices

 

International oil prices could soar to $150 a barrel during the first quarter of 2022 if an ongoing conflict between Russia and Ukraine causes supply problems. Respected analysts and economists are reworking their forecasts and building in the “what-if” scenario, related to Russia; this has caused even more experts to join Goldman and JP Morgan in calling for over $100 per barrel of oil.

JP Morgan is projecting $125 and as high as $150 according to a research note they released. The projection adds to the already 12% higher price than Brent Crude reached in January. Oil is currently trading near its seven-year highs as demand is running ahead of global production. Brent is trading in the mid-$80s per barrel.

Russia Potential

Sanctions from the West against Russia would reduce supply to Western European nations that rely on the country’s oil and exacerbate supply issues. Since late 2021, Russia is said to have been building up troops and artillery near Ukraine’s border. Russia has repeatedly claimed it’s not planning an invasion of its mineral-rich neighbor.

“The latest geopolitical tensions between Russia and Ukraine raise the risk of a material spike this quarter,” wrote JPMorgan economists Joseph Lupton and Bruce Kasman in their research note. “That this comes on the back of already elevated inflation—running at a multi-decade high last quarter—and a global economy that is being buffeted by yet another wave of the COVID-19 pandemic adds to the near-term fragility of what is otherwise a fundamentally strong recovery.”

If an adverse geopolitical event should unfold between Russia and Ukraine, JP Morgan envisions a “quick” surge in Brent Crude over one to two quarters to $150 a barrel.  The projection is based on an estimated “sharp” cut of 2.3 million barrels a day in oil output. This is approximately a 2% drop in total global supply.

Other Forecasts for Higher Oil

Triple-digit oil “is in the works” for the second quarter of 2022, according to Francisco Blanch, head of global commodities at Bank of America, who told this to Bloomberg. His reasoning is demand is recovering in a big way, while OPEC+ supply will start leveling off within the next two months. Blanch noted that it will be only Saudi Arabia and the UAE that can produce incremental barrels to add to the market.

Morgan Stanley is one of the most recent large Wall Street banks to revise its forecast to over $100 per barrel. The company expects oil prices to hit $100 per barrel in the second half of the year. The oil market is headed to a “triple deficit” of low inventories, low spare production capacity, and low investment, Morgan Stanley said in a note carried by Reuters.

Take-Away

The year began with a number of factors driving oil prices higher. These include OPEC+ producers regularly falling short of their targets, increasing demand as travel and commutes have caused gasoline demand to rise, and inventory drawdowns.  On top of this, there is the new threat of supply disruptions in Eastern Europe which could reduce available Brent by 2% of global output. Outright sanctions against Russia also create a scenario of reduced supply and strong upward pressure on oil prices.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading

Why Some Forecasters are Bullish on Oil in 2022

Natural Gas Protests in Kazakhstan May Impact Global Fuel Costs Across the Board

Is Thorium, Not Uranium the Future of Power Generation?

Industry Report – Energy Stocks Level out but Pricing is Still Attractive

 

Sources

https://www.reuters.com/business/jp-morgan-sees-opec-spare-capacity-falling-through-2022-2022-01-12/

https://www.macrobusiness.com.au/2022/01/the-ukraine-commodity-shock/

https://www.barchart.com/story/news/6992728/tight-physical-crude-market-points-to-higher-oil-prices

https://www.reuters.com/business/energy/oil-prices-could-hit-100-demand-outstrips-supply-analysts-say-2022-01-12/

https://markets.businessinsider.com/news/commodities/oil-price-outlook-russia-ukraine-tensions-150-per-barrel-supply-2022-1

 

Stay up to date. Follow us:

	Image Credit: Pixabay (Pexels)

A Growing Number of Analysts are Forecasting Triple Digit Oil Prices

 

International oil prices could soar to $150 a barrel during the first quarter of 2022 if an ongoing conflict between Russia and Ukraine causes supply problems. Respected analysts and economists are reworking their forecasts and building in the “what-if” scenario, related to Russia; this has caused even more experts to join Goldman and JP Morgan in calling for over $100 per barrel of oil.

JP Morgan is projecting $125 and as high as $150 according to a research note they released. The projection adds to the already 12% higher price than Brent Crude reached in January. Oil is currently trading near its seven-year highs as demand is running ahead of global production. Brent is trading in the mid-$80s per barrel.

Russia Potential

Sanctions from the West against Russia would reduce supply to Western European nations that rely on the country’s oil and exacerbate supply issues. Since late 2021, Russia is said to have been building up troops and artillery near Ukraine’s border. Russia has repeatedly claimed it’s not planning an invasion of its mineral-rich neighbor.

“The latest geopolitical tensions between Russia and Ukraine raise the risk of a material spike this quarter,” wrote JPMorgan economists Joseph Lupton and Bruce Kasman in their research note. “That this comes on the back of already elevated inflation—running at a multi-decade high last quarter—and a global economy that is being buffeted by yet another wave of the COVID-19 pandemic adds to the near-term fragility of what is otherwise a fundamentally strong recovery.”

If an adverse geopolitical event should unfold between Russia and Ukraine, JP Morgan envisions a “quick” surge in Brent Crude over one to two quarters to $150 a barrel.  The projection is based on an estimated “sharp” cut of 2.3 million barrels a day in oil output. This is approximately a 2% drop in total global supply.

Other Forecasts for Higher Oil

Triple-digit oil “is in the works” for the second quarter of 2022, according to Francisco Blanch, head of global commodities at Bank of America, who told this to Bloomberg. His reasoning is demand is recovering in a big way, while OPEC+ supply will start leveling off within the next two months. Blanch noted that it will be only Saudi Arabia and the UAE that can produce incremental barrels to add to the market.

Morgan Stanley is one of the most recent large Wall Street banks to revise its forecast to over $100 per barrel. The company expects oil prices to hit $100 per barrel in the second half of the year. The oil market is headed to a “triple deficit” of low inventories, low spare production capacity, and low investment, Morgan Stanley said in a note carried by Reuters.

Take-Away

The year began with a number of factors driving oil prices higher. These include OPEC+ producers regularly falling short of their targets, increasing demand as travel and commutes have caused gasoline demand to rise, and inventory drawdowns.  On top of this, there is the new threat of supply disruptions in Eastern Europe which could reduce available Brent by 2% of global output. Outright sanctions against Russia also create a scenario of reduced supply and strong upward pressure on oil prices.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading

Why Some Forecasters are Bullish on Oil in 2022

Natural Gas Protests in Kazakhstan May Impact Global Fuel Costs Across the Board

Is Thorium, Not Uranium the Future of Power Generation?

Industry Report – Energy Stocks Level out but Pricing is Still Attractive

 

Sources

https://www.reuters.com/business/jp-morgan-sees-opec-spare-capacity-falling-through-2022-2022-01-12/

https://www.macrobusiness.com.au/2022/01/the-ukraine-commodity-shock/

https://www.barchart.com/story/news/6992728/tight-physical-crude-market-points-to-higher-oil-prices

https://www.reuters.com/business/energy/oil-prices-could-hit-100-demand-outstrips-supply-analysts-say-2022-01-12/

https://markets.businessinsider.com/news/commodities/oil-price-outlook-russia-ukraine-tensions-150-per-barrel-supply-2022-1

 

Stay up to date. Follow us:

Indonesia Energy Closes Initial Tranche of $7.0 Million Private Placement

Research, News, and Market Data on Indonesia Energy

 

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / January 24, 2022 / Indonesia Energy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced the closing of the initial $5.0 million tranche of a total anticipated $7.0 million private placement with a single institutional investor.

The Company intends to use the net proceeds from the private placement for funding its previously announced oil well drilling program and for working capital general corporate purposes.

The investment is in the form of a senior convertible note which carries a 6.0% original issue discount, resulting in proceeds before expenses to IEC of approximately $4.7 million. The note has an 18-month maturity and a fixed conversion price of $6.00 per ordinary share for voluntary conversions of the note, subject to adjustment. Beginning four months following the closing of this initial tranche, IEC is required to make equal monthly installment payments of the note through the maturity date, which payments are payable in cash or ordinary shares of IEC (or a combination of cash and shares), with such shares being valued for each payment on the terms provided for under the note.

As part of the investment, the investor was also granted a five year warrant to purchase 383,620 ordinary shares at an exercise price of $6.00 per share, subject to adjustment.

IEC has agreed to file a registration statement registering for resale the ordinary shares issuable upon conversion of the note and upon exercise of the warrant. Upon the declaration of effectiveness of such registration statement, and subject to the satisfaction of certain conditions, a second tranche of funding will be provided by the investor in the principal amount of $2 million, less a 6% original issuance discount, resulting in proceeds before expenses to IEC of approximately $1.88 million. Such principal amount, if funded, will be added to the principal amount of the note, and the investor will be entitled to receive an additional warrant (carrying the same terms as the initial warrant) to purchase 153,450 ordinary shares.

EF Hutton, division of Benchmark Investments, LLC, acted as exclusive placement agent for the private placement and received customary fees.

Additional information regarding this transaction will be provided in a Form 6-K to be filed by IEC with Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, whether the second tranche of the financing described herein actually occurs, or the results of IEC’s drilling program) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020, filed on May 18, 2021, with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

 

Capstone Green Energy (NASDAQ:CGRN) Systems To Provide 3.4 MW of Power for Renewable Energy Operation in California

Research, News, and Market Data on Capstone Green Energy

 

3.4 MW Low Emission Energy System will Run on 100% Renewable Fuel.

VAN NUYS, CA / ACCESSWIRE / January 21, 2022 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy solutions, today announced that its West Coast distributor, Cal Microturbine, has secured a contract to provide a 3.4 MW microturbine based system for a renewable energy customer in southern California.

The system, which will be configured with three Capstone Green Energy C1000S Signature Series microturbines and one C400S Signature Series microturbine, will provide onsite power at the customer’s facility using 100% renewable fuel.

“This order is indicative of the shift we are seeing to more renewable fueled energy projects in recent years,” stated Jen Derstine, Vice President of Marketing and Distribution at Capstone Green Energy. “In fiscal 2019, renewables made up 7% of our overall business and in fiscal 2021 they made up 13% of our business. That should continue to grow based on incentives, access to renewable fuels and improvements in renewable energy technologies,” concluded Ms. Derstine.

The customer initially considered leveraging reciprocating engines for the project but ultimately selected Capstone Green Energy’s microturbines due to their best-in-class rating for low emissions and low life cycle costs.

“Capstone’s autonomous microturbine technology is an ideal fit for renewable fueled projects,” said Ryan Brown, Chief Executive Officer of Cal Microturbine. “The ultra-low emissions technology and low maintenance design allow our clients to execute on their green energy initiatives without the need for a costly onsite operator.”

“On an environmental scale, Capstone microturbines provide can be an important tool in the fight against climate change,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy. “On a business strategy level, particularly for those businesses in California, our technology makes meeting air quality regulations significantly less complicated and less costly than many alternatives currently on the market,” Mr. Jamison concluded.

About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three fiscal years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

 

Capstone Green Energy (NASDAQ:CGRN) Systems To Provide 3.4 MW of Power for Renewable Energy Operation in California

Research, News, and Market Data on Capstone Green Energy

 

3.4 MW Low Emission Energy System will Run on 100% Renewable Fuel.

VAN NUYS, CA / ACCESSWIRE / January 21, 2022 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy solutions, today announced that its West Coast distributor, Cal Microturbine, has secured a contract to provide a 3.4 MW microturbine based system for a renewable energy customer in southern California.

The system, which will be configured with three Capstone Green Energy C1000S Signature Series microturbines and one C400S Signature Series microturbine, will provide onsite power at the customer’s facility using 100% renewable fuel.

“This order is indicative of the shift we are seeing to more renewable fueled energy projects in recent years,” stated Jen Derstine, Vice President of Marketing and Distribution at Capstone Green Energy. “In fiscal 2019, renewables made up 7% of our overall business and in fiscal 2021 they made up 13% of our business. That should continue to grow based on incentives, access to renewable fuels and improvements in renewable energy technologies,” concluded Ms. Derstine.

The customer initially considered leveraging reciprocating engines for the project but ultimately selected Capstone Green Energy’s microturbines due to their best-in-class rating for low emissions and low life cycle costs.

“Capstone’s autonomous microturbine technology is an ideal fit for renewable fueled projects,” said Ryan Brown, Chief Executive Officer of Cal Microturbine. “The ultra-low emissions technology and low maintenance design allow our clients to execute on their green energy initiatives without the need for a costly onsite operator.”

“On an environmental scale, Capstone microturbines provide can be an important tool in the fight against climate change,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy. “On a business strategy level, particularly for those businesses in California, our technology makes meeting air quality regulations significantly less complicated and less costly than many alternatives currently on the market,” Mr. Jamison concluded.

About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three fiscal years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Gevo to Report Fourth Quarter 2021 Financial Results on February 24, 2022

Research, News, and Market Data on Gevo

 

ENGLEWOOD, Colo., Jan. 19, 2022 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) announced today that it will host a conference call on February 24, 2022 at 4:30 p.m. EST (2:30 p.m. MST) to report its financial results for the fourth quarter ended December 31, 2021 and provide an update on recent corporate highlights.

To participate in the conference call, please dial (833) 729-4776 (inside the U.S.) or (830) 213-7701 and reference the access code 3465026#.

A replay of the call will be available two hours after the conference call ends on February 24, 2022. To access the replay, please visit https://edge.media-server.com/mmc/p/38zwqbqa

The archived webcast will be available in the Investor Relations section of Gevo’s website at www.gevo.com .

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel, and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full lifecycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low carbon products such as gasoline components, jet fuel, and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that Argonne National Laboratory GREET model is the best available standard of scientific based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Investor and Media Contact

Heather Manuel, VP of Investor Relations and Corporate Communications

IR@gevo.com

+1 720-418-0085

Gevo to Report Fourth Quarter 2021 Financial Results on February 24, 2022

Research, News, and Market Data on Gevo

 

ENGLEWOOD, Colo., Jan. 19, 2022 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) announced today that it will host a conference call on February 24, 2022 at 4:30 p.m. EST (2:30 p.m. MST) to report its financial results for the fourth quarter ended December 31, 2021 and provide an update on recent corporate highlights.

To participate in the conference call, please dial (833) 729-4776 (inside the U.S.) or (830) 213-7701 and reference the access code 3465026#.

A replay of the call will be available two hours after the conference call ends on February 24, 2022. To access the replay, please visit https://edge.media-server.com/mmc/p/38zwqbqa

The archived webcast will be available in the Investor Relations section of Gevo’s website at www.gevo.com .

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel, and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full lifecycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low carbon products such as gasoline components, jet fuel, and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that Argonne National Laboratory GREET model is the best available standard of scientific based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Investor and Media Contact

Heather Manuel, VP of Investor Relations and Corporate Communications

IR@gevo.com

+1 720-418-0085

Energy: Fourth Quarter 2021 Review and Outlook

Noble Capital Markets Energy Sector Newsletter

Source: Capital IQ as of 12/31/2021

Energy Fundamental Data

Source: Energy Information Administration as of 12/31/2021

ENERGY INDUSTRY OUTLOOK

Exploration and Production: 2021-4Q Review and Outlook

Energy Stocks Performance

Energy stocks, as measured by the XLE Energy Index, began the quarter on a high note outperforming the overall market. As we entered the second half of the quarter, however, energy stocks leveled off while the overall market continued to rise. For the quarter ended December 31, 2021, the XLE rose almost 6% while the S&P 500 Index rose some 10%.

Oil Prices

As is usually the case, the XLE tracked the movement in oil prices. WTI oil prices have been on a tear this year including a sharp increase in October reaching a peak price of $84.65/bbl on October 21. Prices cooled off a bit since then, but remain above $75/bbl., which is near a five-year high (excluding the October run up). Brent oil prices continue to track a few dollars above WTI prices and ended the quarter at $78/bbl. Futures prices are flat holding in the mid seventies for several months implying that the market believes supply and demand have reached a point of equilibrium. More surprisingly, domestic production has also been slow to respond to higher prices. Active rigs have doubled since bottoming out in the spring of 2020 but remain at levels only half that of 2018, the last time oil prices were at this level.

Natural Gas Prices

Natural gas prices have also been exceptionally strong early in the quarter climbing above $6/mcf. entering the heating season. Mild weather in November and December have tempered the sharp rise but prices remain above $3.50/mcf, a very profitable level for natural gas producers. Storage levels, which were running high most of 2020, have returned to historical levels. Drilling activity remains steady. As is the case with oil, we believe the lack of a supply response could mean that natural gas prices remain at elevated levels for several quarters.

Outlook

Energy industry fundamentals remain strong. Energy prices are high and show no sign of decreasing. Past concerns of industry-wide reductions in lifting costs or a fundamental shift away from carbon-based fuels have gone to the wayside due to a lack of supply response to higher prices. Managements seem cautious due to concerns that demand could collapse with another COVID outburst or perhaps that OPEC would punish any expansion by flooding the market. The drilling that is being done is very profitable and that should lead to higher company profits and improved company financials. We believe small energy companies that can expand without drawing attention may be at an advantage.

Source: Michael Heim 01/04/2022; Energy Information Agency (EIA)

Source: Capital IQ as of 12/31/2021

Oil & Gas – Comparable Tables 

Source: Capital IQ as of 12/31/2021

Oil & Gas – LTM Equity Performance 

Source: Capital IQ as of 12/31/2021

Oil & Gas – 2021-4Q Global M&A Activity 

Source: Capital IQ as of 12/31/2021

Power Generation – Comparable Tables 

Source: Capital IQ as of 12/31/2021

Power Generation – LTM Equity Performance 

Source: Capital IQ as of 12/31/2021

Power Generation – 2021-4Q Global M&A Activity 

Source: Capital IQ as of 12/31/2021

Energy Services – Comparable Tables 

Source: Capital IQ as of 12/31/2021

Energy Services – LTM Equity Performance 

Source: Capital IQ as of 12/31/2021

Energy Services – 2021-4Q M&A Activity 

Source: Capital IQ as of 12/31/2021

Mineral Energy – Comparable Tables 

Source: Capital IQ as of 12/31/2021

Mineral Energy – LTM Equity Performance 

Source: Capital IQ as of 12/31/2021

Mineral Energy – 2021 Global M&A Activity 

Source: Capital IQ as of 12/31/2021

LTM Energy – Energy Industry M&A Summary 

Source: Capital IQ as of 12/31/2021

NOBLE QUARTERLY HIGHLIGHTS

Standard Uranium Ltd. (TSXV:STND)

Industry: Energy – Mineral Energy

Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada. Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, is comprised of 21 mineral claims over 25,886 hectares. The Davidson River Project is highly prospective for basement hosted uranium deposits yet remains relatively untested by drilling despite its location along trend from recent high-grade uranium discoveries.

4th Quarter News Highlights:

November 9, 2021: The Company announced the completion of the Phase II summer 2021 diamond drilling program at the Company’s flagship 25,886-hectare Davidson River Project, located in the Southwest Athabasca Uranium District of Saskatchewan, approximately 25 km to 30 km, respectively, to the west of Fission Uranium’s Triple R and NexGen’s Arrow deposits.

Laramide Resources Ltd. (TSX:LAM)

Industry:Mineral Energy; Exploration and production

Laramide is a Canadian-based company with diversified uranium assets strategically positioned in the United States and Australia that have been chosen for their low-cost production potential. Laramide’s Churchrock and Crownpoint properties form a leading In-Situ Recovery (ISR) division that benefits from significant mineral resources and near-term development potential. Additional U.S. assets include La Jara Mesa in Grants, New Mexico, and La Sal in the Lisbon Valley district of Utah. The Company’s Australian advanced stage Westmoreland is one of the largest uranium projects currently held by a junior mining company.

4th Quarter News Highlights:

November 15, 2021: Laramide Resources announced the commencement of an exploration program at Murphy Uranium Project in Northern Territory, Australia. The Company launched a helicopter supported reconnaissance stream and soil sampling program designed to test for uranium, gold and a suite of other precious and base metals, hosted within favorable geological units on ELs 9319 and 9414 in the Northern Territory.

Journey Energy Inc. (TSX:JOY)

Industry: Energy – Oil & Gas; Exploration and production

Journey is a Canadian exploration and production company focused on conventional, oil-weighted operations in western Canada. Journey’s strategy is to grow its production base by drilling on its existing core lands, implementing water flood projects, executing on accretive acquisitions. Journey seeks to optimize its legacy oil pools on existing lands through the application of best practices in horizontal drilling and, where feasible, with water floods.

4th Quarter News Highlights:

November 9, 2021: The company announced that the Duvernay drilling program has advanced to the point where Journey has significant production history for the three wells drilled by its joint venture partner, Kiwetinohk Resources Corp. (“KRC”). These wells rank in the top tier of all wells drilled to date in the East Shale Duvernay basin. The success to date in this play highlights the significant development potential of the Duvernay land block. The joint venture currently controls approximately 116 gross sections where Journey has an average working interest of 37.5% (43.5 net sections).

Source: Company Press Releases

DOWNLOAD THE FULL REPORT (PDF)

Noble Capital Markets Energy Newsletter Q4 2021

This newsletter was prepared and provided by Noble Capital Markets, Inc. For any questions and/or requests regarding this newsletter, please contact >Francisco Penafiel

DISCLAIMER

All statements or opinions contained herein that include the words “ we”,“ or “ are solely the responsibility of NOBLE Capital Markets, Inc and do not necessarily reflect statements or opinions expressed by any person or party affiliated with companies mentioned in this report Any opinions expressed herein are subject to change without notice All information provided herein is based on public and non public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on their own appraisal of the implications and risks of such decision This publication is intended for information purposes only and shall not constitute an offer to buy/ sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice Past performance is not indicative of future results.

Please refer to the above PDF for a complete list of disclaimers pertaining to this newsletter

Thursday, January 13, 2022

InPlay Oil (IPOOF)(IPO:CA)
What to do when everything’s going well? Do more!

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

InPlay set initial 2022 capital budget and operational guidance above our aggressive targets. Management plans to spend C$58 million (vs our C$52) to drill 17 wells (16). With wells paying for themselves in months, expanding drilling is an easy decision. Notably, six of the wells will be drilled in the first quarter which will add to production early in the year. Management forecasts 2022 production of 8,900-9,200 BOE/day in line with our estimate of 9,200 BOE/day. InPlay has a track record of upping guidance if drilling is successful and we would not be surprised to see management do so again in 2022.


Increased drilling means improved financial results.  Management projects AFF (Adjusted Fund Flow) of C$111-$117 million in 2022 above our model’s C$110 million. The higher amount largely reflects a higher oil price assumption ($72.50/bbl vs $70/bbl) but also speaks well about management’s expectations regarding well operating costs. Management projects net debt at the end of 2022 of C$22-$28 …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Thursday, January 13, 2022

InPlay Oil (IPOOF)(IPO:CA)
What to do when everything’s going well? Do more!

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

InPlay set initial 2022 capital budget and operational guidance above our aggressive targets. Management plans to spend C$58 million (vs our C$52) to drill 17 wells (16). With wells paying for themselves in months, expanding drilling is an easy decision. Notably, six of the wells will be drilled in the first quarter which will add to production early in the year. Management forecasts 2022 production of 8,900-9,200 BOE/day in line with our estimate of 9,200 BOE/day. InPlay has a track record of upping guidance if drilling is successful and we would not be surprised to see management do so again in 2022.


Increased drilling means improved financial results.  Management projects AFF (Adjusted Fund Flow) of C$111-$117 million in 2022 above our model’s C$110 million. The higher amount largely reflects a higher oil price assumption ($72.50/bbl vs $70/bbl) but also speaks well about management’s expectations regarding well operating costs. Management projects net debt at the end of 2022 of C$22-$28 …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.